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In the paper, a novel fractal monocular video codec is proposed which includes: using new macroblock partition scheme instead of classical quadtree partition scheme; reducing the block searching strategy and range, thus increasing the calculation speed greatly; using homo-I-frame like in H.264; reducing repeating calculation. The fractal monocular video codec uses the MCP structure. And the fractal stereo video codec is proposed which matches the macroblock with two reference frames in left and right views results in increasing compression ratio and reducing bit rate and bandwidth. The proposed fractal stereo video codec combines the MCP and DCP. Experimental results indicate the proposed fractal monocular video codec could improve the image quality 13% averagely, raise compression ratio 3-5 times, and reduce compression time 90%; For fractal monocular video codec, the proposed fractal stereo video codec can raise compression ratio 3-5 and improve the image quality 0.5 dB.